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The issue isn't that NYC will not regain, but in what state it will be. Lower income families cannot leave an urban center easily. Drop of median income is bad
by JAlexoid 6y ago
The issue isn't that NYC will not regain, but in what state it will be.
Lower income families cannot leave an urban center easily. Drop of median income is bad because the loss of a group of people that contribute a lot more tax money and provide demand for services. That means that an "exodus" of 400k (some are) middle class people will only marginally reduce the demands for infrastructure. That will inevitably lead to strain on infrastructure of NYC.
NYC infrastructure is the most expensive in the world. Construction of one mile of subway runs at $1bn. That is not even TBM bored deep tunnels.
- ashtonkem 6y agoAll fair points. But I’ll point out that NYC infrastructure costs are largely a matter of political policy. There’s no particular reason why NYC couldn’t construct for the same cost as say, Tokyo or Paris if they wanted to.